The Council of Saudi Chambers and the New Zealand Middle East Trade Council signed a memorandum of understanding to establish a Saudi-New Zealand business council, which it is hoped will lead to boost intra-trade between the Kingdom and New Zealand, and increase the volume of trade and investment cooperation, representing a strong boost to Saudi-New Zealand economic relations.

The signing ceremony took place at the New Zealand Embassy in Riyadh.

The signing ceremony, which took place at the New Zealand Embassy in Riyadh, was witnessed by New Zealand Foreign Minister Murray Macaulay, Saudi Ambassador to Australia and New Zealand Nabil bin Mohammed Al Saleh, New Zealand Ambassador to the Kingdom Hamish McMaster and a number of Saudi businessmen and economic figures from the two countries.

The signing ceremony took place at the New Zealand Embassy in Riyadh.

The MoU was signed by the President of the Council of Saudi Chambers, Dr. Abdulrahman bin Abdullah Al-Zamil, and the Vice President of the New Zealand Trade Council for the Middle East, Michael Webb.

In his comments following the signing of the MoU, the Kingdom's Ambassador to Australia and New Zealand, Nabil bin Mohammed Al Saleh, noted the steady development of relations between the Kingdom and New Zealand, citing the mutual visits of officials from the two countries, the latest of which was the visit of the New Zealand Foreign Minister to the Kingdom and his fruitful meetings with Saudi officials, expressing his hope that these meetings will contribute to the advancement of relations between the two countries for the better.